SHARES in Scottish engineering giant Weir Group rose yesterday after an announcement that it is to buy a US mining tools producer in a $1.3 billion (£740 million) cash-and-share deal.
Weir also revealed plans to sell off a loss-making arm of its business.
Shares in the Glasgow-based company rose by more than six per cent in early trading in London after the announcement of its deal to buy Oregon-based Esco. Weir, which makes pumps and valves for the mining and energy industries, said a combination of the Esco deal and the sale of its flow-control business will allow it to focus on its core markets of minerals and oil and gas.
Chief executive Jon Stanton said the moves were an “important development”. He added: With Esco we’ll be joined by a world-class team and add another leading global brand.”
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel